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Sanyo Engineering & Construction, Ordinary Profit Forecast for the Fiscal Year Revised Upward to an Unexpected 2% Increase

Mon Nov 10, 2025 4:00 pm JST Earnings

1960 Sanyo Engineering & Construction Inc. 【J-GAAP】

Earnings Report

Sanyo Engineering & Construction Inc. <1960> [TSE Std] announced its financial results after the market closed on November 10th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) expanded 1.53 billion yen, an increase 60.8% compared to the same period last year.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 22.7%, from the previous forecast of 2.20 billion yen to 2.70 billion yen (compared to 2.63 billion yen in the previous period), turning to a 2.3% increase in the consolidated ordinary profit outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to drop 30.8% from the same period last year to 1.16 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged 2.5 times that of the same period last year, reaching 1.06 billion yen. The operating profit margin significantly improved from 2.6% in the same period last year to 6.4%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2023 22,571 -762 -324 -404 -25.0 ー Nov 6, 2023 J-GAAP
Apr - Sep, 2024 27,715 666 954 401 26.2 36.2 Jan 15, 2025 J-GAAP
Apr - Sep, 2025 28,203 1,178 1,534 1,196 77.9 56.8 Nov 10, 2025 J-GAAP
YoY +1.8% +76.9% +60.8% +198.3% +197.9%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2025 Guidance 28,203 1,178 1,534 1,196 77.9 － Oct 27, 2025 J-GAAP
Apr - Sep, 2025 Results 28,203 1,178 1,534 1,196 77.9 － Nov 10, 2025 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 0.0% +0.0%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 60,000 1,600 2,200 1,600 104.2 40 May 13, 2025 J-GAAP
Mar, 2026 New 60,000 2,000 2,700 2,000 130.3 40 Nov 10, 2025 J-GAAP
Revision Rate 0.0% +25.0% +22.7% +25.0% +25.0%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 40,144 1,457 1,685 1,347 87.7 40 May 13, 2025 J-GAAP
Oct - Mar, 2025 Guidance 31,797 822 1,166 804 52.4 40 Nov 10, 2025 J-GAAP
YoY -20.8% -43.6% -30.8% -40.3% -40.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 50,731 -1,276 -800 -771 -48.6 30 May 27, 2024 J-GAAP
Mar, 2025 67,859 2,123 2,639 1,748 113.9 40 May 13, 2025 J-GAAP
Mar, 2026 Guidance 60,000 2,000 2,700 2,000 130.3 40 Nov 10, 2025 J-GAAP
YoY -11.6% -5.8% +2.3% +14.4% +14.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 14,159 370 418 22 1.4 2.6 Jan 15, 2025 J-GAAP
Oct - Dec, 2024 19,838 1,126 1,308 1,090 71.0 5.7 Feb 14, 2025 J-GAAP
Jan - Mar, 2025 20,306 331 377 257 16.7 1.6 May 13, 2025 J-GAAP
Apr - Jun, 2025 13,969 272 471 268 17.5 1.9 Aug 13, 2025 J-GAAP
Jul - Sep, 2025 14,234 906 1,063 928 60.4 6.4 Nov 10, 2025 J-GAAP
YoY +0.5% +144.9% +154.3% +4,118.2% +4,126.6%

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